DeFi

Uniswap Considers New Proposal To Distribute 4.4 Million ARBs

Key Points:

One of the managers of the Uniswap Foundation solicited proposals in the Uniswap community on how to allocate about 4.4 million ARBs.
Until June 7, proposals that have received community feedback should be incorporated into new temperature check proposals according to the approved governance process.
These tokens will be sent to the DAO’s alias address on Arbitrum.

According to the governance page, Erin Koen, one of the Uniswap Foundation’s administrators, asked for recommendations from the Uniswap community on how to divide around 4.4 million ARBs.

The proposal process will span two weeks, ending on June 7. Proposals that have received community response should be integrated into new temperature check proposals at that time, in accordance with the authorized governance procedure. Delegates with sufficient voting power are also urged to contact out and assist with the launch of Snapshot polls for ideas they support. In this role, the UF will also be accessible.

The Arbitrum DAO has reportedly given a part of its governance token protocols that have built on and contributed to the success of the Arbitrum ecosystem. Uniswap will get 4.4 million ARB tokens as part of this distribution.

The tokens will be transferred to the DAO’s Arbitrum alias address; spending them requires a standard governance vote. Otherwise, there are no restrictions on how the DAO may spend these tokens.

Earlier, three important Uniswap participants started talks about a prospective deployment on Coinbase’s Layer 2 blockchain Base. If the request is granted, it will help Coinbase’s initiative. v3 is currently available on a variety of EVM-compatible chains, including Ethereum, Celo, BNB Chain, and other Layer 2 networks such as Arbitrum. Contributors are currently focused on Base as a potential future launch network. Despite Base being in the test phase, the Uniswap Foundation stated immediately after its testnet debut that the governance process to install Uniswap’s version 3 on Base would commence.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.